|Bid||21.80 x 1300|
|Ask||0.00 x 800|
|Day's Range||21.96 - 22.89|
|52 Week Range||5.16 - 22.89|
|Beta (5Y Monthly)||2.55|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 13, 2021 - Jan 18, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||17.56|
On Wednesday, Alcoa received an upgrade to its Relative Strength (RS) Rating, from 89 to 92. When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. Alcoa stock is now considered extended and out of buy range after clearing a 16.17 buy point in a first-stage cup without handle.
Kaiser Aluminum (NASDAQ: KALU) after markets closed Monday agreed to buy Alcoa's (NYSE: AA) rolling mill business for $670 million. Alcoa has struggled in recent years, and in 2019 launched a program to sell between $500 million and $1 billion of assets deemed non-core in response to weak commodity prices. The company late Monday hit its goal when it announced the sale of its Warrick rolling mill business located in Evansville, Indiana, to Kaiser for $670 million, including $587 million in cash and the assumption of $83 million in employee liabilities.
Moody's Investors Service ("Moody's") noted Kaiser Aluminum Corporation's ("Kaiser") acquisition of Alcoa Warrick LLC., a subsidiary of Alcoa Corporation ("Alcoa"), including all assets of the Warrick Rolling Mill (ingot casting facilities, hot and cold rolling and coated finishing capacity) for a total purchase price of $670 million. Warrick power plant, smelter and land assets will remain with Alcoa.